Qualcomm stock gets a USD 4 billion Amazon AI deal

Qualcomm stock was trading at USD 179.48 on Nasdaq on October 7, 2026, down 0.86 percent from the prior close at 10:25 a.m. ET. The fresh catalyst is an Amazon partnership linking Qualcomm's AI data-center chips to up to USD 60 billion in potential purchases.

Amazon deal broadens Qualcomm's reach

According to Ground News on October 6, 2026, Qualcomm and Amazon will develop custom inference chips across several generations. The cooperation also covers optical connectivity reaching 1.6 terabits per second, aimed at data-center bandwidth demand.

Amazon receives warrants for up to 25 million Qualcomm shares at USD 161.26 per share, with vesting tied to commercial milestones. The full warrant package represents USD 4 billion, while the associated purchases could reach USD 60 billion, making the headline figure a ceiling tied to execution rather than booked revenue.

Handset pressure remains visible

Qualcomm's fiscal third-quarter revenue was USD 9.95 billion, down 4 percent year over year, while reported EPS was USD 2.21 against a USD 2.23 consensus estimate, according to MarketBeat. The same report put quarterly revenue above its USD 9.69 billion estimate, showing that weaker earnings quality and handset demand are offsetting part of the top-line resilience.

For fiscal Q4, Qualcomm guided EPS to USD 2.050-2.250, according to MarketBeat. That range places the Amazon initiative beside a near-term earnings test, because data-center expansion must develop while mobile-related revenue remains under pressure.

Analysts see room above the price

MarketBeat reports a Hold consensus for Qualcomm, based on two Strong Buy, twelve Buy, twenty-one Hold and three Sell ratings, with an average target of USD 204.10. The average target lies 13.7 percent above the USD 179.48 Nasdaq price, creating a quantified gap that depends on execution in AI infrastructure as well as recovery in mobile chips.

Stock faces the November checkpoint

Qualcomm's current market capitalization is USD 188.5 billion, with a 52-week range of USD 121.99 to USD 259.92 and volume of 1,579,985 shares as of October 7, 2026. The stock therefore sits USD 80.44 below its 52-week high, while the Amazon agreement gives investors a concrete measure for the company's diversification beyond smartphones.

Qualcomm was last at USD 179.48 on Nasdaq on October 7, 2026 at 10:25 a.m. ET. The next earnings event is scheduled for November 4, 2026.

Upcoming dates for Qualcomm stock

• November 4, 2026: Q4 FY26 earnings conference call

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